Liontown Resources Ltd (ASX:LTR) is proceeding with the acquisition of Hang Gong property near Liontown’s Bynoe lithium-tantalum project acquired in February/March 2016, located 40 kilometres south of Darwin.
The acquired 80km2 tenement package near Darwin contains an extensive pegmatite field with lithium mineralisation reported from a number of prospects.
It comes with drill ready targets.
The Hang Gong property will enhance Bynoe and comprises two tenements, MLN16 and EMP28651, which will form part of the larger Bynoe lithium-tantalum project.
Pegmatites up to 390 metres long and 60 metres wide have been defined on Liontown’s project area by previous explorers.
The area is known for its tin-tantalum mineralisations which is commonly associated with lithium.
Liontown Resources will have the drill spinning at Bynoe in May 2016.
In January 2016, Liontown Resources announced that grades of up to 4.93% lithium and 1,862ppm tantalum were returned from two prospect areas at its central Tanzanian project.
The company also owns the Jubilee Reef Gold Project in Tanzania with a resource base of 390,000 ounces.
Reflecting the interest in the lithium projects, the share price of Liontown Resources has been on an upward trend since October 2015.
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